Future Fellows - September 2005
September 2005, Volume 11, No. 3      

Dates to Remember

Fall 2005 Exam Registration

Exams 3, 6, and 9:
September 22, 2005

Joint Exams 2 and 4:
September 24, 2005

There is only one deadline for each set of exams. Late registrations will not be accepted
. . .

Change of Exam
Center Deadlines

Exams 3, 6, and 9:
September 22, 2005

Joint Exams 2 and 4:
September 24, 2005
. . .

Summer 2005 Refund
Request Deadline

September 30, 2005
. . .

Fall Exam Refund Request Deadline
December 31, 2005

Winter 2006 Exam Registration Deadline
VEE Exams: January 5, 2006
. . .

CAS Seminars and Meetings
Casualty Loss Reserve Seminar
September 12-13, 2005
The Boston Park Plaza Hotel
Boston, Massachusetts

Limited Attendance Seminar on ALM and Principles of Finance
September 13-14, 2005
The Boston Park Plaza Hotel
Boston, Massachusetts

Special Interest Seminar on Predictive Modeling
September 19-20, 2005
Westin Michigan Avenue
Chicago Hotel
Chicago, Illinois

Limited Attendance Seminar on Reinsurance
September 26, 2005
New York Marriott
East Side Hotel
New York, New York

CAS Annual Meeting
November 13-16, 2005
Renaissance Harborplace Hotel
Baltimore, Maryland

CAS Course on Professionalism
December 2005 (Dates TBA)
Los Angeles, California
Washington, D.C.

To Be a Professional
By William J. Falk, FSA,MAAA, EA, FCA
Chairperson, Actuarial Board for Counseling and Discipline

Athletes who are paid to perform are called professionals. As an actuary, is that all it takes to be a professional? Being paid for doing actuarial work? Of course not! But what do we mean by "profession" and "professionalism" when we apply them to actuaries?

Professions as we know them developed in the 19th century as a means for ensuring the quality of services the wealthy could expect to receive and safeguard the income of the profession's members. Law and medicine were among the early professions. Others soon followed. All professions have a few key characteristics, including:

  • Expert skills and knowledge acquired through study and validated through admission criteria.
  • Ethical behavior that places the professional's interests below those of others.

In exchange for being rewarded for providing professional services, members of a profession accept a responsibility to serve the interests of their principals (i.e., employers or clients) rather than their own interests and to act in ways that uphold the profession's reputation. In some roles, a professional may accept a responsibility to serve the interests of others, even if they differ from the principal's wishes.

Professionalism is the term we use for the concept that an actuary acts ethically and skillfully in performing actuarial services.

Professionalism begins with the Code of Professional Conduct adopted by the CAS (and all of the actuarial organizations in the U.S.). Every member of the CAS is expected to follow the Code. The Code is further implemented through standards that codify or describe generally accepted actuarial practice or that clarify portions of the Code.


What Do You Read in Future Fellows?

The Candidate Liaison Committee would like to have your feedback about Future Fellows. Please use the Readers' Survey* in the "Admissions" section to indicate what you like, dislike, and would like to see in upcoming issues. The CLC will use this feedback to properly serve the actuarial candidate community.

The CAS Office is Moving!

The CAS office is Moving! The CAS Office is relocating a few blocks from its current location in Arlington, Virginia. It is anticipated that the move will take place in early December 2005.The move will not affect the Fall exam registration or administration. Details will be provided on the CAS Web Site as the move date draws near.

2005 Syllabus Updates


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